Williams Capital Initiates Coverage on QEP Resources (QEP)

Equities researchers at Williams Capital assumed coverage on shares of QEP Resources (NYSE:QEP) in a note issued to investors on Friday. The firm set a “buy” rating and a $13.00 price target on the pipeline company’s stock. Williams Capital’s price target would indicate a potential upside of 39.78% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets set a $11.00 target price on QEP Resources and gave the company a “buy” rating in a research note on Tuesday, October 10th. Piper Jaffray Companies restated a “buy” rating and issued a $12.00 target price on shares of QEP Resources in a research note on Sunday, October 22nd. Stifel Nicolaus lowered their price objective on QEP Resources from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, September 26th. KLR Group reiterated a “buy” rating and set a $14.00 price objective (down previously from $15.00) on shares of QEP Resources in a research note on Wednesday, September 27th. Finally, Cowen set a $12.00 price objective on QEP Resources and gave the company a “buy” rating in a research note on Friday, August 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $14.12.

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QEP Resources (QEP) opened at $9.30 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52. QEP Resources has a one year low of $7.02 and a one year high of $21.12.

QEP Resources (NYSE:QEP) last released its earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.11. The company had revenue of $390.10 million during the quarter, compared to analysts’ expectations of $393.87 million. QEP Resources had a negative return on equity of 3.48% and a negative net margin of 0.90%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.21) EPS. analysts anticipate that QEP Resources will post -0.44 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in QEP. Marshall Wace North America L.P. increased its holdings in shares of QEP Resources by 213.8% in the 2nd quarter. Marshall Wace North America L.P. now owns 480,416 shares of the pipeline company’s stock worth $4,804,000 after purchasing an additional 327,342 shares in the last quarter. Mitchell Group Inc. increased its holdings in shares of QEP Resources by 63.8% in the 2nd quarter. Mitchell Group Inc. now owns 1,870,290 shares of the pipeline company’s stock worth $18,890,000 after purchasing an additional 728,590 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of QEP Resources by 18.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 114,013 shares of the pipeline company’s stock worth $1,152,000 after purchasing an additional 17,642 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of QEP Resources by 1.7% in the 2nd quarter. Arizona State Retirement System now owns 101,400 shares of the pipeline company’s stock worth $1,024,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of QEP Resources by 8.5% in the 2nd quarter. Voya Investment Management LLC now owns 1,391,614 shares of the pipeline company’s stock worth $14,055,000 after purchasing an additional 109,002 shares in the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.

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About QEP Resources

QEP Resources, Inc is an independent crude oil and natural gas exploration and production company. The Company focuses on two regions of the United States: the Northern Region (primarily in North Dakota, Wyoming and Utah) and the Southern Region (primarily in Texas and Louisiana). The Company conducts exploration and production activities in North America’s hydrocarbon resource plays.